Gregory Beecher
IPG PHOTONICSAbout Gregory Beecher
Independent director of IPG Photonics, age 67, serving since 2023. Former Vice President and CFO of Teradyne (2001–2019) and Audit Partner at PwC (1993–2001); previously licensed CPA in MA and VT; holds a B.S. from the University of Hartford and an M.S. in accounting from Northeastern University .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Teradyne, Inc. | Vice President & Chief Financial Officer | Mar 2001–Apr 2019 | CFO leadership for a public automation equipment supplier |
| PricewaterhouseCoopers LLP | Audit Partner | Sep 1993–Mar 2001 | Public company audit leadership; financial reporting expertise |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| MKS Instruments, Inc. | Director | 2006–2020 | Process control instrumentation company |
| Hittite Microwave Corporation | Director | 2013–2014 | Designer/manufacturer of high-performance ICs; acquired subsequently |
| MatrixOne | Director | 2003–2006 | PLM software; acquired subsequently |
| Isabella Stewart Gardner Museum | Trustee | Since 2020 | Non-profit governance |
Board Governance
- Committee assignments: Audit Committee member; Nominating & Corporate Governance Committee (NCGC) member; member of Nominating Subcommittee (independent) .
- Independence: Determined independent under Nasdaq/SEC rules; Audit and Compensation Committees composed entirely of independent directors .
- Attendance and engagement: Board held 7 meetings in 2024; Audit 8; Compensation 9; NCGC 5; all incumbent directors attended ≥75% of aggregate meetings of the Board and their committees .
- Executive sessions: Independent directors meet privately at least quarterly; non-executive Chair presides .
- Anti-hedging/pledging: Company prohibits hedging and pledging of IPGP stock by directors .
Fixed Compensation
| Component | Amount ($) | Detail |
|---|---|---|
| Board Annual Cash Retainer | 40,000 | Standard non-employee director retainer |
| Audit Committee (Non-Chair) Retainer | 12,500 | Applies as Beecher is a member, not Chair |
| NCGC (Non-Chair) Retainer | 7,500 | Applies as Beecher is a member, not Chair |
| Total Cash Fees Earned (2024) | 60,000 | Sum reported for Beecher in director compensation table |
The program uses retainers only (no meeting fees), reimburses reasonable expenses, and provides no perquisites or retirement plan for non-employee directors .
Performance Compensation
| Grant Type | Grant Date | Shares/Units | Grant-Date Fair Value ($) | Vesting |
|---|---|---|---|---|
| RSUs (Annual Director Grant) | Jun 18, 2024 | 3,022 unvested RSUs outstanding at year-end | 249,950 | Single installment on earlier of first anniversary or next annual meeting |
IPG no longer grants stock options to non-employee directors; all prior options were vested by Dec 31, 2024 .
Other Directorships & Interlocks
- Prior public boards: MKS Instruments, Hittite Microwave, MatrixOne .
- Network note: Current CEO Mark Gitin previously served as an executive at MKS Instruments; Beecher was a former director at MKS (ended 2020) . No current interlock disclosed.
Expertise & Qualifications
- Financial literacy and risk management expertise from CFO and audit partner roles; valuable to Audit and NCGC .
- Global business and M&A/operational experience; recognized in Board skills matrix .
Equity Ownership
| As of | Shares Owned | Right to Acquire within 60 Days | Total Beneficial Ownership | % of Outstanding |
|---|---|---|---|---|
| Mar 31, 2025 | 2,999 | 3,022 | 6,021 | <1% |
- Director stock ownership guidelines: Minimum 5× annual cash Board retainer (excludes committee/leadership retainers); unvested time-based RSUs count; all directors were in compliance as of Dec 31, 2024 .
- Anti-pledging: Prohibited by policy; no pledges disclosed .
Governance Assessment
- Independence and committees: Strong governance fit—independent director on Audit and NCGC and member of Nominating Subcommittee; no related-party exposure disclosed for Beecher; independent directors and committees meet Nasdaq/SEC standards .
- Alignment: High equity component in director pay (RSUs ~$250k vs cash $60k) supports shareholder alignment; ownership guidelines enforced; anti-hedging/pledging policy reduces misalignment risk .
- Attendance: Met Company’s ≥75% attendance threshold; Board and committees active through 2024 .
- Compensation structure: Retainer-based cash; time-vested RSUs with simple vesting; independent compensation consultant (FW Cook) reviewed director pay in 2024; program adjusted to remain competitive and aligned with peers .
- Red flags: Minor process lapse—annual RSU Form 4 filings were late (filed June 28, 2024 vs due June 21, 2024), including Beecher; no substantive conflicts, pledging, or related-party transactions identified for Beecher .
Insider Filings
| Date | Filing/Event | Notes |
|---|---|---|
| Jun 18, 2024 | Annual RSU grant | RSUs granted to non-employee directors including Beecher |
| Jun 28, 2024 | Form 4 filed | Filed late vs June 21 due date for annual RSU grant |